Pune is a city with a rich cultural heritage. It has a glorious past of over 600 years. Once known as the Deccan Plateau, Pune is 1840 ft above sea level and surrounded by a range of hills. This location ensures a temperate climate with cool evenings even on the hottest summer days. Pune used to be a tiny village inhabited by musicians and artists who would flock here for its picturesque beauty. Today, the city is on par with the top metros. A recent survey by leading market research firm IMRB found that Indians consider Pune the second most desirable city to live in, beating Delhi, Mumbai and Bengaluru. From an educational, cultural hub to a cosmopolitan tier 1 city, Pune today has become a preferred investment destination. The realty sector has therefore seen fast-track growth to keep pace with the increasing demand in the city. With numerous opportunities provided by the expanding IT and ITeS sector, manufacturing industries and the close connectivity to the satellite city of Mumbai, Pune has made a mark in the market due to its peculiar advantages and offers a plethora of opportunities in the fields of retail, information technology, automobile and hospitality industries.

Strong presence of the engineering and automobile sectors with names such as Bajaj Auto, Tata Motors, Bharat Forge, General Motors, Volkswagen, JCB and Hyundai selecting Pune for expansion plans has given a boost to the economic activity in the city. Besides, business houses like Infosys, Wipro, TCS, IBM, Sungard, Zensar, and Syntel setting their base in the city have accelerated the growth of the IT/ITeS sector, leading to an incoming demand from all the sectors for residential housing

According to a recent report on the real estate sector in the city — Pune Real Estate Report 2012 released by ASK Property Investment Advisers property prices are expected to continue with the upward trend with a demand of 50,000 units in 2012.

As per the report, the outlook of the Pune real estate market is based on the rapid growth of the city driven by strong economic activity and migration. Pune, which has been the hub of service and manufacturing jobs, is expected to see sustained job creation of 90,000 - 1 lakh jobs, leading to increased requirement of houses. The proximity of the city to major towns like Sangli, Satara and Kolhapur also makes it the preferred place for investments, Availability of properties in the range of Rs 45-60 lakh makes it affordable for end-users. Further, the requirement of houses based on demographic and commercial space indicates that requirement for houses are expected to be sustained at 50,000 units compared to 40,000-45,000 units in previous years. Prices are expected to remain firm with upward bias due to sustained demand.